fashion products
fashion products

The Fashion Kingdom, an Egyptian fashion e-commerce startup, raises $2.6M in seed funding

The Fashion Kingdom (TFK), an Egyptian e-commerce marketplace for fashion, beauty and home accessories items, announced today that it has raised $2.6 million in seed funding led by CVentures, a corporate venture capital firm based in Egypt. A15, an early-stage VC in the MENA region that has backed the likes of Esaal, Paymob and Helios Investment Partners subsidiary, TPay, made a follow-on investment, according to TFK.

Fadi Antaki, co-founder and CEO of TFK, founded the company in January 2020 with Marianne Simaika and Karim Abd El Kader. They launched the e-commerce platform six months later. Antaki is also a general partner at A15. Antaki noticed a need for a platform that sold fashion products with fast deliveries, different payment methods, and a recommendation feature in Egypt. This opportunity made the chief executive tap into the knowledge he acquired as a kid born into a family with a long history in the apparel business to launch TFK.

“We established the company pre-COVID. And at the time, we saw a big gap or maybe a lack of focus on a place dedicated to selling fashion products, recommendations for what to wear, quick deliveries, and different payment methods. There wasn’t anyone focused on this, especially in fashion,” said Antaki.

TFK deals with a range of products–shoes, beauty products, personal care, accessories, home fashion, etc.–that cater to different demographics. The platform helps local and international brands grow their sales online through their curated marketplace that provides an omnichannel experience to customers: a place where shoppers can find all their fashion needs and exchange products when needed.

There are over 200 brands on the TFK platform, growing 10-15% month-over-month. It has more than 150,000 customers; every month, about 40% of its sales come from returning customers.

Read the rest